Groupama Asset Managment Boosts Holdings in Ferrari (NYSE:RACE)

Groupama Asset Managment increased its position in shares of Ferrari (NYSE:RACE) by 12.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,858 shares of the company’s stock after buying an additional 6,169 shares during the quarter. Groupama Asset Managment’s holdings in Ferrari were worth $258,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RACE. Rothschild Investment LLC acquired a new position in shares of Ferrari in the 2nd quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Ferrari in the third quarter valued at about $29,000. Planning Capital Management Corp purchased a new position in Ferrari during the third quarter worth about $30,000. Valley Wealth Managers Inc. acquired a new stake in shares of Ferrari during the second quarter valued at about $33,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Ferrari in the 3rd quarter valued at approximately $33,000.

Ferrari Stock Performance

NYSE RACE opened at $448.51 on Tuesday. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23. The firm has a 50 day moving average of $455.63 and a two-hundred day moving average of $444.90. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.98 EPS. Sell-side analysts predict that Ferrari will post 8.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. UBS Group boosted their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and raised their target price for the company from $385.00 to $525.00 in a report on Friday, October 11th. Evercore ISI increased their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.